Morgan Advanced Materials (LON:MGAM) Stock Price Down 17.9% – Here’s What Happened

Shares of Morgan Advanced Materials plc (LON:MGAM) were down 17.9% during trading on Friday . The stock traded as low as GBX 198 ($2.50) and last traded at GBX 210.12 ($2.65). Approximately 6,133,187 shares traded hands during trading, an increase of 303% from the average daily volume of 1,521,805 shares. The stock had previously closed at GBX 256 ($3.23).

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup increased their target price on shares of Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the company a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada cut their price target on shares of Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating for the company in a research report on Thursday, November 7th.

Morgan Advanced Materials Stock Performance

The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26. The stock has a market cap of £604.67 million, a PE ratio of 8.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The business has a 50 day moving average price of GBX 266.36 and a two-hundred day moving average price of GBX 271.51.

Morgan Advanced Materials (LON:MGAM) last announced its quarterly earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share (EPS) for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. As a group, equities research analysts forecast that Morgan Advanced Materials plc will post 32.5 EPS for the current fiscal year.

Morgan Advanced Materials Company Profile

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.